A.M. Best Affirms Credit Ratings of Houston Casualty Group Members and Affiliates
The ratings of the property/casualty members of the group reflect their consolidated balance sheet strength, which
The P/C companies have recorded very strong operating performance over extended time periods and across insurance cycles, led by their consistently profitable underwriting performance and complemented by investment returns that exceed industry results. The retained earnings, coupled with conservative operating leverage and favorable loss development trends, provide support to balance sheet capacity. The ratings also recognize the group’s position as a specialty market leader that is exceptionally well-diversified by jurisdiction, product line and segment. The ratings also consider the operational, financial and enterprise risk management support provided by
The ratings of HCC Life reflect its very strong balance sheet strength, as well as its strong operating performance, neutral business profile, very strong enterprise risk management and the enhancement it receives from its affiliation with the
HCC Life has contributed a considerable amount of premium and earnings to the
Upward movement in the ratings may occur with advancements in line of business diversification.
Downward movement in the ratings could result from deterioration in underwriting results, adverse loss reserve development trends, a decline in capitalization or eroding premium levels.
The FSR of A++ (Superior) and the Long-Term ICRs of “aa+” have been affirmed for the following members of the
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Houston Casualty Company -
Avemco Insurance Company -
U.S. Specialty Insurance Company -
HCC Reinsurance Company Limited -
HCC Specialty Insurance Company -
American Contractors Indemnity Company -
United States Surety Company -
Producers Agriculture Insurance Company -
Producers Lloyds Insurance Company
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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Source:
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